Monty Co. sells $365,000 of 12% bonds on June 1, 2020. The bonds pay interest on December 1 and June 1. The due date of the bonds is June 1, 2024. The bonds yield 8%. On October 1, 2021, Monty buys back $116,800 worth of bonds for $123,800 (includes accrued interest). Give entries through December 1, 2022. Prepare a bond amortization schedule using the effective-interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year-end. (Round answers to O decimal places, e.g. 38,548.) Schedule of Bond Discount Amortization Effective-Interest Method Bonds Sold to Yield Cash Paid Interest Premium Expense Amortized Carrying Amount of Bonds 0 $ 0 $ 0 $ 0 $ 414149 20 21900 16566 5334 408815 1 21900 16353 5547 403268 21 21900 16131 5769 397498 2 21900 15900 6000 391498 22 21900 15660 6240 385258 3 21900 15410 6490 378768 23 21900 15151 6749 372019 4 21900 14881 7019 365000 *Difference due to rounding Prepare all of the relevant journal entries from the time of sale until December 31, 2022. (Assume that no reversing entries were made.) (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answers to O decimal places e.g. 58,971. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation 6/1/20 Cash Debit Credit 414149 Premium on Bonds Payable Bonds Payable 49149 365000 12/1/20 Interest Expense 16566 Premium on Bonds Payable 5334 Cash 21900 12/31/20 Interest Expense 2725 Premium on Bonds Payable Interest Payable 925 3650 6/1/21 Interest Expense Interest Payable Premium on Bonds Payable Cash 10/1/21 Interest Expense Premium on Bonds Payable Cash 13628 3650 4622 21900 3441 1231 4672 10/1/21 (To record interest expense and premium amortization) Bonds Payable Premium on Bonds Payable Gain on Redemption of Bonds Cash (To record buy back of bonds) 116800 11852 9524 119128